Bank to gain automation, efficiencies, and integrated technology to support community growth

MONETT, Mo., June 26, 2024 /PRNewswire/ -- Jack Henry (Nasdaq: JKHY) announced today that Quail Creek Bank selected Jack Henry to stay competitive in a growing market while improving both the customer and employee experience.

Quail Creek Bank is a unique, single-location community bank in the heart of Oklahoma City, Oklahoma, with $800 million in assets. The bank, which celebrates its 50th anniversary this year, remains committed to its original philosophy of serving small businesses and individuals in the community. It plans to do so with a technology plan that will provide a leading digital experience, automation, and efficiencies, allowing the bank to focus its efforts on the community.

Oklahoma City is the 20^th largest city in the U.S. and continues to grow at a steady rate. Over the years, the bank's competitive landscape has shifted from community banks to megabanks and regional institutions. This positions Quail Creek Bank to benefit from retaining its differentiators of local decision-making and ownership, and gain new business based on its reputation for quality customer service.

This new technology plan will support the bank's community approach and prepare it for the future. Jack Henry's SilverLake System will automate internal processes and create efficiencies, while new capabilities like real-time payments, digital account opening, and electronic document delivery will improve the customer experience.

"Our main pain point, and the driver behind the core review process, was to improve efficiency. For example, changing a customer's address currently requires us to input the information manually through nine different systems," says Erin Batey, Chief Communications & Innovations Officer at Quail Creek Bank. "The move to Jack Henry will transform the way our employees work, reduce errors, and provide more time to dedicate to our customers. If we are more efficient and stable, our customers get better products and an improved banking experience, and we can continue to provide the quality service we are known for."

Jack Henry's open ecosystem and the access to over 950 API-integrated, third-party fintechs was also a driver for Quail Creek Bank. "The second step in our technology modernization plan is faster and better vendor integration," Batey adds. "Jack Henry's open strategy and the ability to easily integrate with third-party vendors is unique in the industry and shows their commitment to escalating community banking. We're confident that we have selected a technology provider that is not only innovative but prioritizes hiring good people and doing the right thing."

"Industry consolidation and the growth of urban areas like Oklahoma City has changed the competitive landscape for many community banks like Quail Creek Bank," said Stacey Zengel, Senior Vice President of Jack Henry and President of Bank Solutions. "Consumers compare their digital offerings to those of regional and big banks. Jack Henry can empower these institutions to stay technologically competitive and improve their efficiency, while helping them continue to provide the personalized experience they're known for."

About Jack Henry & Associates, Inc.

Jack Henry (Nasdaq: JKHY) is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 48 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 7,500 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health. Additional information is available at www.jackhenry.com.

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SOURCE Jack Henry & Associates, Inc.

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